The "Global Farm Management Software and Data Analytics Market: Focus on Solution, Application, Produce, Patents, Funding, Impact of COVID-19 - Analysis and Forecast" report has been added to ResearchAndMarkets.com's offering.
The global farm management software and data analytics market is projected to grow from $1.06 billion in 2020 to $4.31 billion by 2025, at a CAGR 32.32% from 2020 to 2025.
The reported market growth is attributed to the increasing demand for efficient farm operations and cost-effective usage of resources. The rise in adoption of smart farming equipment such as sensors and controllers have increased the number of data points in farms, allowing greater usage of data analysis for monitoring and management. The rising concerns over global food security and sustainability have led to extensive investments by governments across the world.
The farm management software and analytics have garnered the attention of various stakeholders amongst different farming types such as precision crop farming, livestock farming, indoor farming, and aquaculture. Catering to precision crop farming, the wide range of use cases found under this farming type for agricultural software solutions is driving the growth. Major use cases for precision crop farming under the application segment include yield monitoring and farm mapping, crop scouting, weather tracking, and forecasting, irrigation management, and farm economics.
The introduction of smart lights integrated with software is expected to augment the growth of farm management software and data analytics in the indoor farming sector. Moreover, depleting agricultural land and increasing demand for fresh agricultural produce all around the year are expected to propagate the growth of indoor farming
Impact of COVID-19 on Global Farm Management Software & Data Analytics Market
In 2020, the farm management software and data analytics market is expected to experience a downfall, due to the COVID-19 pandemic. During the COVID-19 outbreak, the supply chain of the agriculture industry has been disrupted. Companies are focusing on new strategies to develop more convenient tools to cater to the demand for food. Hence, the farm management software and data analytics industry are playing a critical role to cater to the unprecedented situation caused by COVID-19 by providing predictive analytics and insightful outputs to assist efficient crop growth and animal health.
Growing Necessity to Increase Efficiency in Farm Operations
Increasing Farm Size
Increasing Demand for Automation in Farming
Depleting Farm Income Leading to Lesser Investments in Farm Software and Analytics
Farmer's Resistance to Share Farm Data Due to Privacy & Security
Rise in technological advancements of Artificial Intelligence
Increase in Government Initiatives to Facilitate Precision Agriculture Adoption
Growth of Software-Integrated Precision Agriculture Solutions
Key Questions Answered in this Report:
What is the estimated global farm management software and data analytics market size in terms of value for the period 2019-2025?
What is the expected future scenario and revenue to be generated by different types of solutions including software and Platform-as-a-Service?
What is the expected future scenario and revenue generated by farm management software and data analytics in different types of farming, including precision crop farming, livestock farming, and indoor farming, among others?
What is the expected future scenario and revenue generated by the application segments for which farm management software and data analytics is offered, including crop yield monitoring and farm mapping, crop scouting, weather monitoring and forecasting, irrigation management, and animal growth and health monitoring, among others?
What is the expected future scenario and revenue to be generated by the farm management software and data analytics operating for different farm produce, including cereals, oil crops, fiber crops, fruits, vegetables, and tree nuts, among others farm produce types?
Which region is the largest market for the global farm management software and data analytics market?
What is the expected future scenario and the revenue generated by different regions and countries such as North America, South America, Europe, Asia-Pacific & Japan, China, the U.K., and the Middle East & Africa, in the farm management software and data analytics market?
What is the competitive strength of the key players in the farm management software and data analytics market on the basis of the analysis of their recent developments, product offerings, and regional presence?
Where do the key precision crop farm management software and data analytics companies lie in their competitive benchmarking, compared on the factors of market coverage and market potential?
How is the funding and investment landscape in the global farm management software and data analytics market?
How is the patents landscape in the global farm management software and data analytics market?
What are the market dynamics of the global farm management software and data analytics market including market drivers, restraints, and opportunities?
What is the SWOT analysis for leading companies in farm management software and data analytics market?
Ag Leader Technology, Inc.
CNH Industrial N.V.
CropIn Technology Solutions Pvt. Ltd
Deere & Company
EFC Systems Limited
Evonik Industries AG
Farmers Edge Inc.
Infarm - Indoor Urban Farming Gmbh
Lettus Grow Ltd.
Raven Industries Inc.
SST Development Group Inc.
Tenacious Solutions Ltd
The Climate Corporation (A Bayer AG Company)
Valley Agricultural Software
For more information about this report visit https://www.researchandmarkets.com/r/n3rzha
View source version on businesswire.com: https://www.businesswire.com/news/home/20201029005813/en/
Laura Wood, Senior Press Manager
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